According to the latest report by IMARC Group, titled “Global Silicon Photomultiplier (SiPM) Market Size, Share, Industry Trends, Growth, Opportunity and Forecast 2022-2027“, the global silicon photomultiplier (SiPM) market reached a value of US$ 120.8 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 179.2 Million by 2027 exhibiting a CAGR of 6.50% during 2022-2027.
Silicon photomultiplier (SiPM) is a photodetector that enhances the sensitivity and timing of photodetection applications. It deals with the issue of timing, sensing, and quantifying low-light signals into a single-photon level. SiPM offers advantages such as detecting light wavelengths near-infrared to the near-ultraviolet range and enhancing efficiency compared to heavy photomultiplier tubes. It also has the ability to identify a broad spectrum of photos in various applications such as hazard and threat detection, medical imaging, and LiDAR. Consequently, SiPM is utilized across numerous industries such as electronics, automotive, healthcare, IT and telecommunication, oil and gas, industrial, and aerospace.
Report Metric
Historical: 2016-2021
Base Year: 2021
Forecast Year: 2022-2027
Silicon Photomultiplier (SiPM) Market Trends and Drivers:
The market is primarily driven by the significant growth of the healthcare industry. The increasing need for accurate diagnosis of patients across hospitals and healthcare centers are fueling the market growth.
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Moreover, advancements in quantum technologies are increasing the adoption of SiPM in quantum optics, quantum information research, and two-photon imaging, thus creating a positive market outlook. Over the years, the field of photonics has established itself as an optimal platform for high transmission rates and robustness of optical states against decoherence effects, which is facilitating market growth.
Furthermore, huge investments in research and development (R&D) activities, the growing demand for product detection and imaging, and the shifting inclination toward semi-autonomous vehicles are also anticipated to propel market growth in the upcoming years.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Silicon Photomultiplier (SiPM) Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
AdvanSiD, Berkeley Nucleonics Corporation, Broadcom Inc., Cremat Inc, Dynasil Corporation, Excelitas Technologies Corp., First Sensor AG (TE Connectivity), Hamamatsu Photonics K.K., John Caunt Scientific ltd., PicoQuant and Semiconductor Components Industries LLC.
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The report has segmented the market on the basis of region, type, device type, application and industry vertical.
Breakup by Type:
NUV SiPM
RGB SiPM
Breakup by Device Type:
Analog SiPM
Digital SiPM
Breakup by Application:
LiDAR
Medical Imaging
High Energy Physics
Hazard and Threat Detection
Others
Breakup by Industry Vertical:
Automotive
Healthcare
IT and Telecommunication
Aerospace
Oil and Gas
Others
Breakup by Region:
North America: (United States, Canada)
Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
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Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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